There is still a lot of work to be done to get a tax reform bill through the Senate, but the House bill is a start, and, with its extensive economic growth and job creation features, it is a better start than we initially thought it would be.

The cost of government is not what it taxes, it is what it spends. The GOP tax plan is a start, but not a particularly bold or ambitious start, and it is only one part of a pro-growth economic formula. Spending has yet to be dealt with.